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Morocco's GDP surged up by 4.4% in 2022, says HCP

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In a recent note, the High Commission for Planning (HCP) unveiled that Morocco’s gross domestic product (GDP) stood at a value of MAD 1.330 billion in 2022, up by 4.4% compared to 2021.

In the same year, financial and non-financial companies created 45.3% of national wealth and 15.4% of gross national disposable income. They contributed 60.8% to national savings and 58.5% to investments.

Additionally, the Public Administration sector created 16.1% of GDP and 20.2% of gross national income, while its share in the national gross fixed capital formation (GFCF) was 13.6%.

Households and non-profit institutions serving households (NPISHs) produced 28.9% of national wealth and 64.5% of national disposable income. 

HCP stated that the aforementioned institutions participated in the creation of 29.7% of national savings and 27.9% of the investment.

However, purchasing power fell by 2.5% in the context of high inflation.

Overall, the nation’s financing requirement was MAD 46.9 billion in 2022 and represented 3.5% of GDP instead of the 2.3% registered in the previous year. 

This increase was due to the deteriorating financing capacities of financial companies and households (including NPISH) by MAD 34.3 billion and MAD 7.7 billion, as well as a reduction in financing needs.

HCP followed a sectoral approach to determine the growth and regression of national accounts, presenting a thorough comparison between 2021 and 2022.

These statistics provide information on several areas of the national economy’s evolution. They enable the presentation of all economic and financial flows carried out by economic units both internally and externally, as well as the provision of information on economic growth, changes in demand, the behavior of economic agents, and changes in economic structures.

The post Morocco's GDP surged up by 4.4% in 2022, says HCP appeared first on HESPRESS English – Morocco News.

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